Los Angeles daily herald., 1887-07-23
SAN MIGUEL.
The Story of the Whole
Transaction.
THE LAND BUREAU ENDORSED.
A Fair Statement of the Sale of
the Celebrated San Mi
guel Lots.

President and Vice-P President of the
Pacific Coast Land Bureau, last even
ing. 1t has grown to be custom with
The Union to get an interview with
Mr.. Easton at intervals on the occa-
sions of his visits to this city, and the
following interview, taken last night,
will be read with much interest. Mr.
Easton said
Learning at Los Angeles that some
dissatisfaction existed about San
Miguel City, Mr.. Frink and myself at
once took the cars for this city. On
arriving this morning we began a
thorough and careful examination OF
every detail in connection with that
sale. We found that our manager at
this place, r. J. Pennell, had organ
lied and conducted this sale in accord
ance with our regular business
methods; first receiving authorization
in regular form from the owners of the
property by which they placed the
tract in our hands known as San Miguel
City, comprising $40 acres This we
were authorized to survey and sub
divide into blocks and lots. In their
authorization they agreed to furnish
water for the entire tract. While the
surveyors were on the ground, and
when we only had a preliminary map
in our office, on Saturday, July 9th,
the owners OF the property came in
with a few friends, and asked to be
permitted to select a few lots from the
tract at schedule prices, which had
been agreed upon at an average of $50
lot. While standing at the counter
examining the map, people who were
in and out of the office about other
transactions, asked what was going on,
and on being informed expressed de-
sire to have a few lots also. The
numbers desiring to purchase became
large, and Mr.. Pennell suggested that
if they would fall into line he would
wait upon them as fast as he could,
adding that he thought there would
be no objection to their taking such
lots as they wished.
From this small beginning this
whole matter started. No opposition
was gwen to our representative to
regard to titles. No alb. tract to the
title of this tract was in existence.
He could have done nothin, else. 1t
is the lmost invariable r,le of our
house that when people want land
that it is the time to sell it. He per-
mitted the line of purchasers to in
crease. He made no statements of any
kind in regard to the advantages of
the property, its location, the advan-
tages it would derive from future i'm
provements, or anything else. The
excitement increased. Notwithstand-
ing the inclination ON the part of Mr..
Pennell to postpone the sale several
times, it continued until 10 O'Clock
at night, when he peremptorily
closed it and refused to sell any
more, feeling sure that the few lots on
hand would find a ready market at a
fair advance on Monday. Ii any er-
ror was made in this matter, it was in
selling too many lots at this time, or
in opening the sale at all till the maps
were completed and all parties could
have an opportunity to visit the prop
erty in advance of their selections, or
until preliminary examination at least
of abstract had been made, although
it is commonly the case, particu-
larly with individual parcels of prop
erty, that special examination of the
abstract is postponed until after the
sale.
One feature of the sale, which is
overlooked by a number OF the COM
plainants, is the fact that large per-
centage of the property was sold out
side OF the Land Bureau office. 1t is
probable that by reason of the courte-
sizes existing between leading houses
in our business some persons may
have purchased more lots than they
wanted for themselves, expecting an
enhancement OF values, that their po-
sitions as subscribers would be worth
a premium at a later day.
This was the situation as we found
it ON arriving this morning. After
looking it over we were satisfied that
Mr.. Pennell had handled this sale in
exact accordance with our usual meth
ods. Our position in this affair is the
same we usually occupy in such mat
ters, namely: That with purchasers
who in good faith make their deposits
we must keep faith with reference to
title. The matter reduces itself to
this proposition. We have hastened
the making OF the abstract as much as
possible this afternoon and placed it
in the hands of our regular attorney,
Mai. Levi Chase.
1t is gratifying to us that many of
the bone fide purchasers intend to
improve their property, and are COM
inc in and making settlements, paying
the full one-third, and expecting in a
few days, as soon as papers can be
prepared to receive their contracts.
On receiving report from Major
Chase we shall at once prepare con-
tracts, and attach to each one free of
charge printed copy of his opinion.
Mr.. Frink and myself feel fully salts
fed with the way in which Mr.. Pen
nell managed the enterprise, and his
firm adherence to the general propo-
sition which we lay down in connec-
ton with such enterprises, although
il has created some personal feeling
on the part of people not accustomed
to such affairs, who will not under
stand the true situation and see that
the matter has worked out to the
interest of depositors. We feel
that this is a elimination
OF this practice of purchasing
at random, which prevails in this part
Of California, and will be lesson
which will not only be benfit to pur-
chasers at large, but caution to
houses engaged in this line OF busi-
ness. 1t satisfies us that our methods
pursued in previous sales Of this char
acter are the safest and most just, he
cause a greater effort is made to fix
attention upon the specific sale at q
certain date. All are invited and
given chauce to visit the property at
the time of offering it. Surveys must
have been previously completed, lines
and corners designated, maps made